Figure files for Nasdaq IPO after funding $16B in blockchain loans, joining a wave of crypto firms entering public markets.
Blockchain-based lender Figure Technology Solutions Inc. has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). According to Bloomberg, the company plans to list its shares on the Nasdaq under the ticker symbol FIGR. The shift is a reaction to an increasing interest in the cryptocurrency market in public markets. The IPO filing puts Figure among a growing list of crypto-related companies seeking to become publicly traded, coming after the successful IPO of stablecoin operator Circle.
Figure Eyes IPO After Swinging to $29M Profit in H1 2025
During the first half of the year 2025, Figure had a good financial performance. Revenue generated by the company was 43.8 million, reflecting a 22.4% gain relative to the same period in the previous year. Besides, Figure posted a net income of 29.1 million, a considerable step up compared to its loss of 13 million in the first half of 2024. These figures indicate the growth and profitability of the company to be taken public.
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Figure has already left a significant footprint on the mortgage provider industry since its launch in 2018. The company has funded loans to the tune of more than 16 billion dollars based on its blockchain technology. These are home loans and crypto-backed loans where a borrower can put up digital assets. The blockchain platform offered by Figure expedites the lending process and makes it more efficient by eliminating traditional middlemen. Such a strategy has drawn interest to a crypto-friendly market, particularly as the regulatory environment has evolved.
It is proceeding with the IPO after a confidential draft was filed with the SEC earlier in August 2025. Since 2023, Figure has been collaborating with other large banks such as Goldman Sachs, JPMorgan Chase, and Jefferies Financial Group on its IPO plans. These banks will spearhead the underwriting of the offering. However, the amount of shares and the IPO price range is not announced yet. According to previous reports, the company will seek to raise between 500 million and one billion US dollars.
Figure’s Crypto Loans and Growth Poised to Attract IPO Investors
Mike Cagney is the co-founder of Figure and also co-founded SoFi Technologies Inc. His fintech experience has also informed the mission of Figure to change lending using blockchain. The technology used by the company streamlines loan procedures and provides its services to the underserved markets. By way of example, Figure offers crypto-secured loans to individuals who are not capable of getting conventional bank loans. This has assisted the company in increasing the number of its customers and loan volume.
Meanwhile, there is a cryptocurrency IPO boom. The shares of stablecoin issuer Circle rose 168 percent upon its June 2025 initial listing, an indication of investor interest. On the same note, Gemini, the crypto exchange belonging to the Winklevoss twins, has recently filed for a New York IPO. Such trends indicate that the crypto-related businesses are increasingly being accepted in the open markets. This trend may help the IPO of Figure, which will be even greater in an environment that is more crypto-friendly under the present U.S. administration.
To sum up, Figure Technology Solutions will cause a splash in its Nasdaq IPO. It is a leader in the crypto-finance market through its high revenue growth, 16 billion dollars of lending, and a blockchain-based lending model. As the company progresses, the investors will keep an eye to monitor its performance in the open market. The IPO would also propel the crypto industry into mainstream finance.
